Credit Card Brains

Happy Monday and welcome to the 161st Carnival of Personal Finance! This week’s theme is renewal, because I’ve been thinking about it a lot lately. It’s been a central focus of my site, “The Budgeting Babe” since I started blogging in 2004 with a little savings, a lot of debt and a weakness for power shopping.

When I developed The Budgeting Babe, I did it knowing that my 20’s were a time for reinvention, the decade when I would officially “grow up” and define who I would eventually become. Today, going on 29, I’m happy to be a financially independent, fiscally fit (most days), free-spirited, fun loving woman. But while I’ve spent all this time reinventing myself in hopes of growing into a mature, financially savvy adult, it never occurred to me this week that rebirth, reinvention and growth never stop.

All around me lately, I see friends and family in the midst of change and fresh starts, most incredibly positive (new jobs, new roles as a mother or farther), yet some negative (foreclosures, layoffs). And in the midst it all, it has occurred to me that life is all about growth and renewal. Just because you’re fiscally fit today can’t predict who or where you’ll be in five years. Picking yourself up after a long slump, or reevaluating yourself to manage life’s changes are key to your ability to succeed financially.

On that note, here are my editor’s picks for the week:

• So Sick of Debt announces that she’s DEBT FREE! Kudos! If anyone doubts the power of transformation, read about it here and catch the feeling.

• Kim at Alpha Consumer was reading my mind this week. She published a great letter from a reader who lost it all, along with some great advice for starting over.

• Amanda at Value for Your Life is deciding whether to reimagine the shape of her dreams.

• Twiggers at In Debt Because I Like Nice Things has started a three part series on selling your stuff. Those of you thinking about starting fresh must read her exhaustive and helpful tips for sorting through your past life.

• Young Black and Prosperous has hit a new milestone: she’s engaged! And she has the best savings plan ever for affording a wedding. Who cares how long it takes? They’re smart, young and in love.

• Benjamin at Trees Full of Money offers planning tips to those expecting a new baby. Sort of a “What to Expect” for the PF community.

Enjoy the editor’s picks this week, but don’t stop there! Each category listed below features wonderful writing, thought-provoking articles and fabulous financial tips. It’s been an absolute pleasure hosting this week and I hope you enjoy the rest of the articles. Read on for more of this week’s best of PF blogging.

BUDGETING
My two cents: It’s never too late, or too early, to start a budget. If you’ve been thinking about it, today’s the day to start! And here’s some inspiration.

• The Happy Rock has a pretty good breakdown of his financial hole. It’s interesting to read and compare strategies. I personally was shocked at the cost of day care!

• Christine at Blue Jeans Millionaire does a great job of explaining all the factors to consider when choosing a health care plan. Wow, she’s through. And smart.

• Pasadena Financial Planner recommends a few budgeting systems for you.

• Curt at PennyJobs.com gives us tips for creating a budget.

• Bob at Platinum Years Network wonders why we’re so sensitive to some kinds of spending, and so careless about others?

• Jason, the Healthcare Economist, reviews a new budget tool.

• Brice at Save and Conquer shares some details about corporate budgeting.

CREDIT
Up to your eyeballs in credit card debt? Figure out a plan to pay it back and start living again. For those starting out on their repayment journeys, here are a few great resources.

• My Credit Card Blog offers an overview of the best credit reward programs.

• Money Blue Book offers an intriguing overview of how credit card numbers are created.

• Dana at Not Made of Money breaks out of the credit card loop.

• Ask Mr. Credit Card gives his take on why store credit can be a bad idea.

DEBT

• Can I Get Rich on a Salary investigates a woman who won’t pay off her debts.

ECONOMY
The news has been bad lately, hasn’t it? Our economy is due for a renewal, I think…

• Nina at Queercents posts a thought-provoking piece on life in the exurbs.

• Tim at Canadian Dream asks: Will high priced oil change the way business works in the future?

• Emily at Taking Charge is finding the real world a little scary right now, and notes that consumers are cutting back on spending.

FINANCE

• Anthoney at Help My Cash Grow notes that personal finance is all about attitude.

• J. Money’s biggest financial vice is…bananas?

• JS at Smart Money Daily shares the stories of billionaires.

• MoneyMonks asks: Which would you prefer?

FRUGALITY
Lookng to reinvent yourself? Read about those who have discovered the benefits of the frugal life.

• Blunt Money wonders if people who say “I have everything I need” ever really mean it.

• Funny About Money notes the perks to living a rural lifestyle.

• Chief Family Officer writes about coupon problems. Oh how we love to clip and save!

• Passive Family Income just got a cashback credit card for gasoline. Interesting concept.

• Sallie’s Niece figures she spend $900 on Gyros, and she’s done with ‘em!

• Brooke at Dollar Frugal is totally right about obsolescence.

• GradGirl finds a good use, and a good cause, for old bridesmaid dresses. Awesome!

• Ashley from Wide Open Wallet reviews the inspiring “Go Green, Live Rich.”

• Jamie at Cheap Healthy Good gives us three frugal rules she breaks, and three she lives by.

• Finance Gets Personal sells some books on Amazon.

• Sean at Financial Ramblings gives us a great overview of auto insurance. (I’ll be using this next week, when I buy mine!)

INVESTING
This is where I’d like to grow my knowledge. Maybe the Budgeting Babe will someday become a Dividends Diva!

• Kyle at Amateur Asset Allocator asks, “Do stocks get less risky with time?”

• The Dividend Guy spends some time reflecting on the fundaments of investing.

• BrianMounts.com announces his monthly stock and ETF selections.

• Andy at Saving to Invest reminds us to teach kids about investing.

• MoneyNing wants us to keep investing, despite the news.

• Megan at Counting My Pennies tells why the ladies need to step up their investing game.

• Dividend Growth Investor analyzes AT&T.

• Dividends4Life analyzes Eli Lily.

• David at Make Cash Online Today is talking about FOREX trading robots, whatever those are.

• I’m Not Cheap, I’m Fiscally Concerned is never watching CNBC again. Ever.

MONEY MANAGEMENT
Great advice here for those in search of a renewal of balance.

• Living Almost Large ponders living large.

• Aaryn at Sound Money Matters reminds us why we need a will.

• Shannon at Saving Advice reveals her secrets to success.

• Broke Grad Student shares why he hates cash.

• Free From Broke deals with financial problems with loved ones.

• Ron at The Wisdom Journal gives us 10 Commitments You Should Make for Your Own Financial Success… how wise!

• The Financial Blogger tells us how to find a good financial advisor.

• DJ at the Family Wallet shares details about insurance needs when you have a new baby.

• RC at Think Your Way to Wealth offers tips for moving to the next financial level.

• Madison at My Dollar Plan shares advice for your mid-year money check-up.

REAL ESTATE
Buying property? Then you’re in the midst of a financial reinvention! Read on and support your new goals.

• Cheap as Chips helps us avoid the rental crisis.

• Journey2Retirement asks: Is now a good time to buy a house?

RETIREMENT
For the ultimate rebirth: The day when you leave work behind and do what you’ve always dreamed of with your free time.

• Henry at InsureBlog has the true story of one woman’s retirement planning dilemna, and how difficult it is to “get it right.”

• Clint at Accumululating Money tells us how to retire comfortably with a Roth IRA.

• Jay at Personal Finance Hacks compares 401k plans.

• Dan at Everyday Finance looks at 401 asset allocation and shows what you can do to protect your nest egg.

• Daniel at A Financial Life asks: How much do you save for retirement?

SAVING
It might not be a big deal for anyone else, but the day I opened a savings account with direct deposit was the day my life changed.

• Jim at Financial Blueprint opened an HSBC savings account.

• Sun’s Financial Diary finds a savings account with 4.7% APY (!).

SPENDING
Renewal is about a commitment to a larger goal, and baby steps help you get there. Cutting back on spending is one of those baby steps.

• Lisa at Greener Pastures writes, “How are you affected by the power of suggestion? The answer might surprise you.”

• Bob at Christian Finances and Debt Help shares a cool tool to help spend safely.

• Shana at Smart Easy Money is spending her stimulus check, and won’t miss it.

• Preet at Where Does All My Money Go says smoking a pack a day costs you… millions.

• Our Fourpence Worth resists the urge to splurge.

• Dorian, The Personal Financier, shares why buying groceries online is the way to go.

• One Frugal Girl avoids full retail prices for 30 days…can she do it?

• Tanesha at Personal Financial Analyst shares her love of Netflix.

• …while Money Smart Life analyzes Blockbuster’s Total Access Pass.

TAXES

• BeThisWay wants to know where his sales tax holiday is this year. Sales tax holiday? Are you kidding? Where do I sign up?

• Free Money Finance tells us how to hire a good tax professional.

TRAVEL
Because we’re all in need of a good summer vacation to feel refreshed and renewed, I opened up a new category. It’s a little self-serving for me, but I eat these articles up!

• Mighty Bargain Hunter scouts out newer, sneakier ways airlines give you a walletectomy.

• I really appreciated this article by Student Scrooge on airline miles. Given all my travel issues lately, I found it very informative.

And that rounds out this week’s edition! If you didn’t make it in this week’s edition, it’s likely due to the cut-off time I had to implement this evening in order for me to get some work in. Your submissions will be considered for next week’s Carnival.

I hope you all have a fabulous week, and if you’re new to The Budgeting Babe, be sure to check me out from time to time.

Thanks to Flexo for being such an amazing PF steward. You rock.